..

312008

1. 1.1 1.2 2. 2.1I 2.2. 2.2.1 2.2.2 3. 3.1 3.1.1 3.1.2 3.2 3.3 3.4 4. 4.1II 4.2 4.3 4.4 4.5 5. 6. 7. 8. 9. 3 3 4 6 6 7 7 8 8 8 8 9 9 10 11 11 11 12 14 15 22 23 24 25 27 27

1.

( , ) , .2076/92, 89/646/ . 1841 1928. ,1880,1999, . , , , . , . (), ,,,, . , (, , , , ....), , , 2006,. ,, . , , . 1.1 1420062006/48/ 3 2006/49/ . ().2007: 3601/1.8.2007 , , . (/). 1.1.2008. 92007 () .,: , (. /2589/2007,.,9). . () ,. ( ) .50% ,75%.

 1.2 ( ,) ()(), . : () &..... /. .. AssetManagement..... Leasing.. .. /.. .. . NBGGreekFundLtd NBGBancassurance.. / TheSouthAfricanBankofAthensLtd(S.A.B.A.) () NBGManagementServicesLtd Management StopanskaBankaA.D.Skopje UnitedBulgarianBankA.D.Sofia(UBB) UBBAssetManagement / UBBInsuranceBroker / NBGInternationalLtd NBGInternationalInc(NY) NBGIPrivateEquityLtd /.. 4 NBGPrivateEquityS.A.S. /.. NBGFinancePlc. InterleaseE.A.D.,Sofia InterleaseAutoE.A.D. ETEBABulgariaA.D.,Sofia ETEBARomaniaS.A. NBGLuxembourgHoldingS.A. NBGLuxfinanceHoldingS.A. ..(IVen) ..//.. NBGFundingLtd BancaRomaneascaS.A. data.. .. .. / .. / .. .. plan.. .. SEERealEstatefund NBGInternationalHoldingsB.V. NBGLeasingIFNS.A. FinansbankA.S. FinansbankMaltaHoldingsLtd FinansFinansalKiralamaA.S.(FinansLeasing) FinansbankMaltaLtd FinansYatirimMenkulDegerlerA.S.(FinansInvest) FinansPortfoyYonetimiA.S.(FinansPortfolioManagement) FinansYatirimOrtakligiA.S.(FinansInvestmentTrust) IBTechUluslararasiBilisimVeIletisimTeknolojileriA.S. (IBTech)

FinansTuketiciFinansmaniA.S. VojvodjanskaBankaA.D.NoviSad NBGLeasingd.o.o.Belgrade NBGServicesd.o.o.Belgrade CPTInvestmentsLtd NBGFinance(Dollar)Plc NBGFinance(Sterling)Plc EterikaPlc(SpecialPurposeEntity) RevolverAPCLimited(SpecialPurposeEntity) Revolver20081Plc(SpecialPurposeEntity)

.. . .

, :

() S.C.GarantaAsigurariS.A. Audatex.. National.. ... GrandHotelSummerPalaceS.A. .. NBGIPrivateEquityFunds(SEERealEstateFund)

. . .

FinansEmeklilikveHayatA.S.(FinansPension) 5 ,. , . ,. : PLANETA.E. .....

20% ,,2, 25,.V,.3455/2006(/2587/20.8.2007).:

() FinansEmeklilikveHayatA.S.(FinansPension) UBBAIGInsurance&ReinsuranceCompany() UBBAIGLifeInsuranceCompany() ( , ) . , . , , . .

2.

2.1 , , .. , , 30% , /. , (), (),, , , . . (goodwill). ( ), 45% , , . 30% , /, . 6 , . 50%50% , 10% 10% , 2 31.12.2006, . 2 31.12.2006,. () 8.747 (1.955) (431) (104) 6.257 224 6.481 50%50%() >10% 4 14 231.12.2006 7 183 208

 (31.12.2012) 231.12.2006 49 V/2587/20.8.2007. 2.2 2.2.1 31.12.2008. 8%. &() 278.275 12.524 132.381 () 1.028.902 191.734 () () 549.204 * 88.956 () 25.104 ,** 240.026 2.086 7 100 &( ) */2588/20.8.2007 **25.547. ,.3/2589/20.8.2007. () 285.115 995.010 407.090 96 1.687.311 () &() 4.236.603 () 37.294 3.338 80.067 632 112.126 233.457 545.629 5.015.689 2.549.292

2.2.2 (). ( , ) . , . . (), . 3. 6.256.593 6.481.075 62.696.113 10,0% 10,3%

, , 8 ,(). ,,: , , , (,,,) , , , ,, ., ,. 3.1 3.1.1 (, , , ) . , .

, . , . / ,. .() . 3.1.2

, , . . , , . , /. ,, . . : 9 , ,, . ,. . . . , ., . , , . , , ,. , . , .. . 3.2 , RiskWatch Algorithmics () . ,

. ( ) 99%. : ,. . . . , . , . . , Finansbank., ,. . Finansbank,. , . 10 ,, (, , ), . . Finansbank. , , . , ,, . . Finansbank. 3.3 o o , /2577/2006,, . : (StandardisedApproach).

, (AdvancedMeasurementApproach). , , , . . , , ( ) . , ( ),, , . , , . , . 3.4 , : , 11 (,/,,). , ( ). /. . , . 4. 4.1 (pastdue) 1 . (impaired): 100% , ,: 90, 180

(&)

100 50 50 50 500

5% 5% 5% 5% 5%

4.2

( ) ,, () ( ) , , (). ,., ., ,. , , , [39.59]: , , , , H 12 , ,: i. ii. , [39.60]. , , ,[39.60]. ( , )[39.60]. , . , ( ) ( ) [ 39.AG84]: (effective interest rate) , , ,

 ,, . 2008 31.12.2008 20.750.395 22.278.690 7.123.305 7.352.343 3.500.448 3.665.136 4.863.797 6.150.989 36.237.945 39.447.158 26.862.275 35.249.734 63.100.220 74.696.892 (1.575.231) (1.620.423) 61.524.989 73.076.469 31.12.2008 % 51.438.731 70% 10.648.608 15% .. 9.263.287 13% 1.617.186 2% 108.657 73.076.469

13

() () 31.12.2008 33.031.942 8.856.019 1.609.411 4.753.228 2.909.927 10.285.403 3.031.718 1.734.504 1.198.313 981.508 709.721 754.375 433.208 2.787.192 73.076.469

%
45% 12% 2% 7% 4% 14% 4% 2% 2% 1% 1% 1% 1% 4%

1 13 31.12.2008 ()

312

15

8.299.248

3.993.958

11.786.109

19.953.994

29.043.160

73.076.469

,,2008: 1 / / 31 4.3 (....): Standard&Poor's Moody's Fitch ....: 1. / 2. , 3. 4. () , , /2588/20.8.200731.12.2008 () 1 23 45 6 4.393.799 1.965.379 32.368 6.391.546 1.905.143 1.723.746 32.368 3.661.257 2008 1.558.492 513.335 (401.270) 44.057 (69.131) (25.060) 1.620.423

14

() 1 2 3 45 6 18.883.824 421.388 38.191 3.894.840 23.238.243 18.883.824 421.388 38.191 3.375.065 22.718.468

() 1 2 34 56 31.075 18.702 79.500 1.275 130.552 31.075 18.702 79.500 1.275 130.552

, & () 1 2 35 6 4.4 , , (). , . . ()., (). (projectfinance) ( object finance), , /2589/2007 . 148.151 2.554.588 86.067 2.788.806 75.740 1.132.321 19.260 1.227.321

15

,(2) .() ()., , . ,, . . ( ) , . , ,(,)( ,,,,..). , . ( ) /2589/2007, , . . 16 ,, ,. . .,2219 3 (). , . , (.. ). . ,(3): (),(). (.., , , ) (expert judgment) . , (2)(slottingcriteriamodels).

31.12.2008,: 3.837 403 44 75 4.359 88,02% 9,25% 1,01% 1,72% 100,0%

,, : . () , / 2589/2007, .1. , . Moodys Risk Advisor (MRA) 2004. , . (, , ) , , , , . , 17 . (), () () . , , . , . (, ). . MRA2004, . 2005, Moodys Risk Services,, ,. . , ,,.: ., ,. , 1986 2005. ,,..., .

, .,, : o 90 , o 180, o . ,32004, ,.

, . ,, .. ,, . ( , ), , . ( ) .,,, . , . , ( ),MoodysInvestorServices 18 . , . . . (.. , ),(..,),, . , : 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. . , 2,5. : , , , & , ,.20032005 .

. (slottingcriteriamodels) . ,, ,: 1. 2. 3. 4. 5. 6. 7.

. ()., , /. . ,. ,(, ) . 2006, . , . 19 (. 180): 1. , (,,..). ,. 2. . (1),3.,4. 3. . (4) , . 4. . , , , (5),. 5. : . ,(4). 20032004 2005. , . ( , ..) ,, / , , , . , ., (,,,,..), ( , , , ..) , ,

, . 12., . ,() : 1. , .,2, 3. 2. , . 3. , . 100%. . 1, 2 , . 180 1990 , . ( ) 31/12/2006 . , . , , .(). 20 31.12.2008(): () * *** ** 2.837.862 3.200.096 6.786.973 2.017.904 361.897 635.321 15.840.053 39,1% 83,9% 118,8% 175,6% 227,1% 0,0% 102,4%

* "" . "" . ** /2589/2007. ***. 2007 . (2008), . 90, 2008. ,1%15%4%.

(Slottingcriteria)

* 1.599.651 68,0%

233.325 82,0% 19.684 115,0% 618 250,0% ** 32.736 0,0% 1.886.014 69,1% * /2589/2007. **. () ** * 8.184.254 3.145.018 3.148.075 910.237 909.461 514.904 16.811.949 3,3% 17,2% 32,9% 71,3% 117,7% 0,0% 21,2% LGD 21,4% 21,4% 21,3% 21,3% 21,1% 35,9% 21,8%

21

* /2589/2007. **. , ( ) 2008 . () , 11.474 83.341 99.940 206.515 401.270

. ( 15, ) , , . ,, . . , .

4.5

2007 , .: , , , , ., ( ). ,: (,.) ( ) ,,,() : 22 o o o ,& o o o o () o o ,/&(,..) o o ,& o o o o & o o o

 () / / 519.775 0 , 75.845 1.492.526 2.797.889 8.314 399.241 1.744.525 7.765 0 () 226.001 76.666 () 129.590 1.801.081 592.896 1.763 24.435 & 307.684 0 4.465.553 1.801.081 3.939.362 5. , , . . . 23 , Moodys Standard & Poors. , ., . . . , . (GMRA, ISDA Credit Support Annexes).,,, 29.000 . ( ). , .: / 2594/20.8.2007 , (ISDA GMRA) . , ,(CreditSupportAnnexes,CSAs) , , .

, . ().
* 895.704 256.185 1.151.889 658.796 256.185 914.981 () 74.362 0 74.362 CSA 584.434 256.185 840.619

ISDACSA

** 236.908 0 236.908

* **. 6.

2008, , . : 1.329.094 1.155.173 1.173.192 24 3.657.459 . (,), (), Revolver APC Limited Eterika Plc. ,., , , . ,, . . , . . ,: ,: ...: MoodysInvestorsServiceLtd FitchRatingsLtd(Fitch) .

 100% . , / 2593/20.8.2007 ,/2588/20.8.2007/ 2589/20.8.2007. 2.328.365.,: 1.768.900. 559.465. : Standard&Poor's Moody's Fitch , . 7. , . () 2003, . 2005, RiskWatchAlgorithmics 2005.,. . 31/12/2008(): 25 29.641 7.653 0 ,Hedgefunds&Gamma&Vega / /,,, .. &&, () 517 2.821 632 0 0 80.067 0 0 0 0 112.126

233.457 ,22.9.05,RiskWatch . ,() ,., (&) /,75 (.).

, (), ,252,. . ,/: (), (), . , , (marketdata), (holding period) : 99%1, ,: o , o ,, o beta, o (,,), , . : 1. , 2. ,, , 26 : ) o , 10 , ) , 10 , 60 k(3) (4). ,. . , , . , (stress testing) / . / , . (IMF) (,), : 1 2 3 4 (steepening) (flattening) 03 +200.. 200.. 0.. +200.. 35 +200.. 200.. +100.. +100.. >5 +200.. 200.. +200.. 0..

1 1

30%

30%

, , (backtesting). , , , . ,, ,252. : /() tt+1 ,RiskWatch ,, 5. 27 (intraday transactions), . 8. ,. . ,.. ,, . , , , , . 292.974 65.070 358.044 2008 2.057.2008,177.743. 9. IPSSenderoSVAL, ,,. , , ( ) . ,. .

: ,, ,. ,,. , . 31 2008 : +50 50 5% +5%

28